India survives Global Recession !

While many countries are showing negative growth, India and China show positive growth.

When a country shows a negative GDP growth, that country is said to be in Recession, according to IMF.

Here are the stats

Nation 2009 2010

China 7.5 5.5
India 5.4 6.5
Russia -6.5 1.5
Brazil -1.3 2.5
England -4.2 2
US -2.6 0.8
Japan -6 1.7
Germany -6.2 -0.6
France -3 0.4
Italy -5.1 -0.1
Australia -0.5 1.3
Saudi Arabia -0.9 3.9

World GDP growth has come down to -2% and it is a miracle that China and India are showing positive GDP growth !

During the Great Depression of 1928, about 11500 banks went bust and 25% of the labour force lost jobs. It took the US five years to come out of that recession. Now the world is going through a torrid economic phase and the prophets of doom point out that the world is going towards a Second Great Depression.

In India, the consumer based industries show a bullish trend but IT appears to be bearish. IT which clocked a compunded annual growth of 30% has now come down to 5%.

The IT scrips of the Stock Market may be impacted. More so with the Satyam Computers scam.

Sept 08 will see the end of Elarata Saturn for India and Saturn's stay in Virgo may see the rise of steel, cement etc.